Some comments regarding your question:
- Your facts are very limited
- Do you have trader tax status (TTS)?
- Do you have a MTM election?
- Regardless of the answer to the above questions, absolutely no income / loss from your crypto activity is reported on your Schedule C. Schedule C only reports ordinary and necessary business expenses. Unless you have TTS, you are not eligible to use Schedule C.
- Your activity will be reported on various forms depending on the responses to the above questions; form 8949, Schedule D, form 4797, etc. It all depends on your trader status.
- Too many get into this crypto world without a good grasp on the tax reporting implications. I would recommend you meet with a tax professional who understands the fairly complicated crypto tax world. Reporting incorrectly will not bring you good news from the IRS.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
